If average costs of production decline with increases in output for a particular large firm in an industry:
a. many small firms will be more efficient than the single large firm in the industry.
b. the single large firm will be more efficient than many small firms in the industry.
c. product diversification will be necessary for the firm to spread its overhead.
d. diseconomies of scale become significant as its output increases.
e. its variable cost of production will exceed its fixed costs.
b
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The branch of economics that deals with the analysis of the whole economy is called
A) macroeconomics. B) marginal analysis. C) microeconomics. D) metroanalysis.
Successful product differentiation by a monopolistically competitive firm makes the demand curve, faced by the firm, steeper
a. True b. False Indicate whether the statement is true or false
What makes production planning a daunting task for central planners?
What will be an ideal response?
According to a recent survey, in 2012, the number of U.S. households that owned equitites was about:
a. 3 % b. 27 % c. 45 % d. 55 %